Eskom power plan; Rand fizzles; unemployment high; Sibanye eyes NY; SA scientists discover early man in Botswana

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  • The government issued its big plan to save Eskom, but the details were a disappointment for many hoping to see faster, firmer action. In particular, Eskom’s debt burden hasn’t been dealt with, worry analysts.
  • The rand weakened as much as 1% against the dollar after the release of the plan, leading emerging-market currency declines.

  • Sibanye Gold Chief Executive Officer Neal Froneman is considering moving the South African miner’s primary listing to New York from 2021, after he curbs the company’s debt.
  • The unemployment rate rose to the highest level in at least 11 years in the third quarter as construction, factories and trade shed jobs, says Bloomberg. The jobless rate increased to 29.1% from 29% in the three months through June, Statistics South Africa said.

  • Bloomberg reports that the ancestors of modern humans, homo sapiens sapiens, first lived in the Zambezi basin in northern Botswana, according to a study published in the scientific journal Nature.

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